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Himatsingka Seide Ltd. Interim / Quarterly Report 2021
59230_rns_2021-02-05_6009522d-7824-4d73-9a84-7ef9d821e089.pdf
Interim / Quarterly Report
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REF: HSL/SEC/2021/7
February 5, 2021
| To | To |
|---|---|
| The Deputy Manager | The Manager |
| Department of Corporate Services | National Stock Exchange of India Ltd. |
| SSE Ltd. | Exchange Plaza, Plot No. C/1, G Block |
| PJ Towers, Dalal Street | Bandra-Kurla Complex, Sandra (E), |
| Mumbai -400001 | Mumbai 400051 |
| Script Code: 514043 | Symbol: HIMATSEIDE |
Dear Sirs,
Sub: Press Release - February 5, 2021
We are enclosing herewith Press Release dated February 5, 2021 .
Please take the same on record.
Thanking you,
Yours faithfully, For Himatsingka Seide Limited
Sridhar Muthukrishnan Company Secretary
Encl: as above
Himatsingka Seide Limited Registered Office: 10/24 Kumara Krupa Road High Grounds, Bangalore 560 001, India T +91 80 2237 8000, F +91804147 9384 E [email protected] CIN L17112KA1985PLC006647 www.himatsingka.com
Bengaluru, February 5, 2021 - Himatsingka Seide Ltd. announced its financial results for the quarter ended December 31, 2020, on February 5, 2021.
Q3 FY21 Total Revenue Up 0.9% Y-o-Y to ₹681.65 Crores Q3 FY21 EBITDA Up 26.2% Y-o-Y to ₹157.33 Crores
CONSOLIDATED FINANCIAL SUMMARY – Q3 FY21 and 9M FY21
| (Figures in ₹ Crores) | ||||||
|---|---|---|---|---|---|---|
| Particlulars | Q3 FY21 | Q3 FY20 | Y-oYChange | 9M FY21 | 9M FY20 | Y-oYChange |
| Total Income | 681.65 | 675.85 | 0.9% | 1,524.49 | 1,973.89 | -22.77% |
| EBITDA | 157.33 | 124.71 | 26.2% | 173.51 | 408.36 | -57.5% |
| EBITDA Margin (%) | 23.1% | 18.5% | 463 bps | 11.4% | 20.7% | (931 bps) |
| EBIT | 119.53 | 89.74 | 33.2% | 58.49 | 320.54 | -81.8% |
| EBIT Margin (%) | 17.5% | 13.3% | 426 bps | 3.8% | 16.2% | (1240 bps) |
| PBT (Before Exceptional Item) | 74.64 | 39.35 | 89.7% | -79.16 | 179.33 | -144.1% |
| PBT Margin (%) | 10.9% | 5.8% | 513 bps | -5.2% | 9.1% | (1429bps) |
| PAT (Before Exceptional Item) | 45.06 | 27.94 | 61.3% | -90.92 | 122.76 | -174.1% |
| PAT Margin (%) (Before Exceptional Item) | 6.6% | 4.1% | 248 bps | -6.0% | 6.2% | (1218bps) |
| PAT | 45.06 | 2.78 | 1522.4% | -90.92 | 82.09 | -210.8% |
| PAT Margin (%) | 6.6% | 0.4% | 620 bps | -6.0% | 4.2% | (1012bps) |
CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE QUARTER ENDED DECEMBER 31, 2020
- Consolidated Total Income for Q3 FY21 stood at ₹681.65 Crores vs ₹675.85 Crores in Q3 FY20, an increase of 0.9% Y-o-Y and vs ₹659.55 Crores in Q2 FY21, an increase of 3.4% Q-o-Q.
- Consolidated EBITDA for Q3 FY21 was ₹157.33 Crores vs ₹124.71 Crores in Q3 FY20, an increase of 26.2% and vs ₹96.90 Crores in Q2 FY21, an increase of 62.4% Q-o-Q. EBITDA Margin stood at 23.1%.
- Consolidated EBIT for Q3 FY21 increased to ₹119.53 Crores vs ₹89.74 Crores in Q3 FY20 and vs ₹57.62 Crores in Q2 FY21.
- Consolidated PBT (Before Exceptional Item) for Q3 FY21 stood at ₹74.64 Crores vs ₹39.35 Crores in Q3 FY20.
- For Q3 FY20, Exceptional Items includes reversal of incentive benefits of MEIS to the extent of ₹25.65 Crores and European business restructuring expenditure of ₹8.38 Crores.
- Consolidated PAT for Q3 FY21 was ₹45.06 Crores vs ₹2.78 Crores in Q3 FY20.
BUSINESS UPDATE
- The ramp up of capacity utilization levels at our new Terry Towel facility remain on track and is expected to continue to rise during Q4FY21.
- During the quarter, revenue streams from brands stood at ₹551 crores vs ₹579 Crores during Q3 FY20
- In line with Himatsingka' s strategy to expand its global brand portfolio, during the quarter the Company entered into a new licensing agreement with The Walt Disney Company for the European region. The license will give Himatsingka the rights to design, develop, manufacture and distribute a broad range of home textile products inspired by Disney's vast archives and characters from all its franchises including Disney, Marvel, Pixar and Lucas.
As part of Disney's relaunch strategy, with a leaner and deeper partner base, Himatsingka will distribute an expansive range of licensed home textile products across Germany, United Kingdom, France, Italy, Spain, Central and Eastern Europe, the Nordics and South Africa among other countries. This agreement marks the commencement of Himatsingka's relationship with Disney, the world's largest entertainment franchise.
- Consolidated Net Debt reduced by ₹285 Crores during the first nine months of FY21.
- We remain focused on optimizing working capital and have reduced inventory levels by ₹313 Crores during 9M FY21. This translates to an inventory reduction of 28.7%.
Commenting on the Company's performance, Mr. Shrikant Himatsingka, Managing Director & Group CEO said:
"We have made significant progress on our operating performance during the quarter. We remain focused on improving the capacity utilization levels across our manufacturing facilities while enhancing market share across key regions. Our impetus on deleveraging and improving capital efficiencies continue to gain traction and will be central to our operating strategy going into FY22."
About Himatsingka Group
Himatsingka is an integrated textile group with a global footprint. The group designs, develops, manufactures and distributes a suite of textile products. On the manufacturing front, it operates amongst the largest capacities globally for producing Bedding, Bath, Drapery & Upholstery and Yarn products. Spread across North America, Europe and Asia, the Group operates amongst the largest brand and private label portfolios in the textile space. With a team of over 10,000 people, Himatsingka continues to build capacities and enhance reach across global markets.
For more information, please contact:
Sachin Garg Himatsingka Seide Ltd. Phone: +91-80-42578000 Email: [email protected]
Disclaimer:
Statements in this document relating to future status, events, or circumstances, including without limitation statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on commercial estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may materially differ from those anticipated in such forward-looking statements. Himatsingka Seide Limited may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the regulatory bodies and its reports to shareholders. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors that may or may not be relevant.